Post Date: 10-03-2022
The rapid rise in mortgage rates during 2022 coupled with continued appreciation of home prices have limited the number of buyers in the market which is reflected by the lower number of home sales currently. "It's a fact that many households are impacted by higher mortgage rates as they no longer earn the qualifying income for the median-priced home." Nadia Evangelou, NAR Economist ...CONTINUE READING
Post Date: 08-31-2022
Married couples who own a home as joint tenants with rights of survivorship, the surviving spouse inherits the home, along with their basis, and it does not trigger a taxable event. Unfortunately, the capital gain exclusion is reduced to a single person's share unless the survivor disposes of the property in the granted time. ...CONTINUE READING
Foreclosure filings are up 132% from a year prior. Here’s what that means for the housing market (and it’s not what you might think).
Post Date: 08-09-2022
When we were reading through real-estate data this month, three stats caught our eye. The first: that the number of active foreclosures (this is when the foreclosure process has begun on a seriously delinquent loan, but it has yet to be completed and liquidated) ...CONTINUE READING